Composites Market Size, Share, Growth, and Industry Analysis, By Types (Layup, Filament Winding, Injection Molding, Pultrusion), By Applications Covered (Transportation, Aerospace & Defense, Wind Energy, Electrical & Electronics), Regional Insights and Forecast to 2033

Composites Market Size 

The Composites Market was valued at USD 91245 million in 2024 and is expected to reach USD 95807.25 million in 2025, growing to USD 141,557.85 million by 2033, reflecting a compound annual growth rate (CAGR) of 5% during the forecast period [2025-2033].

The U.S. Composites Market is expanding rapidly, driven by demand in aerospace, automotive, and wind energy sectors. With growing focus on lightweight, durable materials, the U.S. continues to lead in composite material innovation and adoption.

The global composites market is experiencing rapid growth, spurred by the rising demand for high-performance materials across a variety of industries, including transportation, aerospace & defense, wind energy, and electrical & electronics. Composites, such as layup, filament winding, injection molding, and pultrusion, are gaining widespread adoption due to their superior strength-to-weight ratios, high durability, and versatility. For instance, in the aerospace sector, composites now make up over 50% of the materials used in modern commercial aircraft, driven by the need to reduce weight and improve fuel efficiency.

Composites Market Trends

The composites market is experiencing significant growth across various sectors, with advancements in manufacturing technologies and an increasing focus on sustainability. In the transportation sector, composite materials, such as carbon fiber and glass fiber, are now extensively used in automotive and aerospace applications, contributing to reduced weight and increased fuel efficiency. In fact, the use of composites in the aerospace industry represents over 50% of aircraft structure weight. In the automotive industry, composites make up nearly 20% of vehicle weight, improving overall performance and reducing emissions.

Technological advancements in composites manufacturing processes, such as pultrusion, filament winding, and injection molding, are driving down costs and expanding application areas. Innovations in these processes make composites more affordable and adaptable to industries seeking high-performance, lightweight materials for a range of applications.

Composites Market Dynamics

The composites market is experiencing robust growth driven by several key dynamics, including advancements in technology, increasing demand for lightweight materials, and rising emphasis on sustainability. One of the major drivers of market growth is the increasing adoption of composites in the aerospace and defense sectors, where they are crucial in reducing the weight of aircraft, improving fuel efficiency, and enhancing performance. Composites represent around 50% of the weight in modern commercial aircraft, such as the Boeing 787 Dreamliner, illustrating their significant impact on the industry. This sector is expected to continue driving demand for advanced composite materials, especially as the push for more fuel-efficient, cost-effective designs grows.In the transportation industry, the need for lighter vehicles is pushing the demand for composite materials, particularly in the automotive sector. Composites are used extensively in vehicle structures, body panels, and interior components. 

DRIVER

"Growing demand for eco-friendly and lightweight materials"

The Composites Market is experiencing substantial growth due to the rising demand for lightweight and eco-friendly materials across multiple industries. In the automotive sector, for instance, the adoption of composites is driven by the need to reduce vehicle weight for improved fuel efficiency and lower emissions. It is estimated that composite materials account for over 35% of the structure of modern electric vehicles, with demand expected to rise due to stricter environmental regulations. Similarly, in the wind energy sector, composite materials are increasingly used in turbine blades, contributing to more than 70% of the material composition. This growing demand is also fueled by a heightened focus on sustainability, as composite materials offer long-lasting performance, corrosion resistance, and reduced maintenance costs compared to traditional materials.

RESTRAINT

"High cost of composite materials"

One of the key restraints affecting the Composites Market is the high initial cost of composite materials and manufacturing processes. Despite offering superior strength-to-weight ratios and other performance benefits, composites are still relatively more expensive than traditional materials such as steel or aluminum. The cost of raw materials like carbon fiber is significantly higher, representing up to 50% more than conventional materials used in automotive or aerospace applications. This price disparity, coupled with the specialized manufacturing techniques required for composites, can limit adoption, especially in industries that are highly cost-sensitive. While the cost of production has been decreasing with advancements in manufacturing technologies, the initial investment for large-scale composite material adoption remains a challenge.

OPPORTUNITY

"Expansion in renewable energy applications"

An emerging opportunity in the Composites Market lies in the increasing use of composite materials in renewable energy, particularly wind and solar power. In the wind energy sector, composites account for more than 70% of the material used in turbine blades, and this share is expected to grow as wind farms continue to expand globally. The growing shift towards renewable energy sources, driven by environmental concerns and policy mandates, is expected to increase the demand for composites. Additionally, advancements in solar panel technologies are opening doors for the use of lightweight and durable composite materials in solar panels and other energy-efficient systems. As governments and companies continue to invest in renewable energy, the demand for composites is expected to rise in these sectors.

CHALLENGE

"Limited awareness and expertise in composite materials"

A key challenge faced by the Composites Market is the lack of awareness and expertise in the use of composite materials, especially in emerging industries. While composites are widely used in sectors like aerospace and automotive, industries such as construction and medical devices still face difficulties in integrating composite materials into their production processes. The complex manufacturing techniques and the need for specialized knowledge in handling and processing composites can be a barrier for companies looking to adopt these materials. Furthermore, there is limited infrastructure and training available for workers and engineers, hindering widespread adoption. This challenge remains an obstacle to the full-scale penetration of composites in diverse applications.

Segmentation Analysis

Composites are predominantly used in sectors such as Transportation, Aerospace & Defense, Wind Energy, and Electrical & Electronics. The Transportation sector benefits from composites due to their lightweight nature, improving fuel efficiency and vehicle performance, with composites contributing to over 35% of materials used in electric vehicles. In Aerospace & Defense, composites enhance aircraft durability and reduce weight, with the sector accounting for 40% of global composite consumption. Wind Energy applications are also a major growth driver, as composites make up more than 70% of wind turbine blades, supporting the increasing demand for renewable energy.

By Type

• Layup: Layup is a widely used composite manufacturing process that involves placing layers of fiber-reinforced resin into molds. This method is particularly popular in industries like aerospace, where lightweight, high-strength materials are essential. The layup process allows for the creation of complex, custom-designed parts, making it suitable for applications that require specific material properties. The demand for layup is increasing due to its ability to produce large, intricate composite structures, such as airplane fuselages and wings. The automotive sector also benefits from layup processes in the production of car parts that require high-performance composites.

• Filament Winding: Filament winding is a manufacturing technique used to create cylindrical or spherical composite structures by winding continuous fibers under tension around a rotating mandrel. This process is widely used in industries such as pressure vessels, pipes, and aerospace components. Filament winding produces parts with excellent strength-to-weight ratios, making it ideal for applications that demand high-performance materials in the automotive, oil and gas, and defense industries. The growing demand for lightweight, durable materials in energy applications, especially in the oil and gas sector, is expected to drive the expansion of filament winding technologies.

• Injection Molding: Injection molding is a highly efficient process used to create composite parts by injecting a mixture of resin and reinforcing fibers into a mold. This method is particularly suitable for high-volume production of small to medium-sized parts with complex geometries. Injection molding is commonly used in the automotive, electronics, and consumer goods sectors, where high-volume, precision manufacturing is critical. The automotive industry, in particular, is adopting injection molding for producing lightweight parts that help improve fuel efficiency and reduce emissions.

• Pultrusion: Pultrusion is a continuous manufacturing process where fibers are pulled through a resin bath and then pulled through a heated die to form composite profiles. It is mainly used for producing constant cross-section components such as rods, beams, and tubes. Pultruded composites are known for their excellent mechanical properties, including high strength and rigidity. They are used in industries such as construction, transportation, and marine, where structural integrity and resistance to environmental factors are critical. Pultrusion is gaining popularity in sectors like construction, where composites are used to replace steel and aluminum in structural applications.

By Application

• Transportation: Composites are gaining widespread adoption in the transportation sector due to their ability to reduce vehicle weight, improve fuel efficiency, and enhance durability. In the automotive industry, composites are used to manufacture lightweight parts like body panels, bumpers, and interior components. The global push for electric vehicles (EVs) further accelerates the use of composites, as these materials help extend battery life and improve the vehicle’s performance. The demand for lightweight, durable materials in rail and shipbuilding is also increasing, as composites contribute to reducing operational costs and improving performance.

• Aerospace & Defense: In the aerospace & defense sector, composites play a vital role in improving the performance and efficiency of aircraft and spacecraft. Materials like carbon fiber reinforced polymers are extensively used in aircraft fuselages, wings, and other structural components. These materials offer superior strength-to-weight ratios, which are essential in aerospace applications. The demand for advanced composite materials is being driven by the need to reduce fuel consumption, enhance durability, and meet stringent safety standards in the aerospace sector. The defense industry also uses composites in the manufacturing of vehicles and military equipment for their lightweight and strength properties.

• Wind Energy: Wind energy is one of the fastest-growing applications for composites, as these materials are crucial in manufacturing large, durable wind turbine blades. Composites offer high strength-to-weight ratios, corrosion resistance, and excellent fatigue performance, making them ideal for the harsh environments where wind turbines operate. The demand for wind energy is expanding globally, and as the industry scales up, the use of composites in wind turbine production is also increasing. In fact, composites account for over 70% of the material used in wind turbine blades, which helps drive the growth of this application segment.

• Electrical & Electronics: In the electrical and electronics sector, composites are used for their excellent insulating properties, durability, and resistance to environmental factors. Applications include the manufacture of circuit boards, electrical housings, and connectors. As the demand for electronic devices increases, the use of composites in this sector is expected to grow, driven by the need for lightweight and durable components in smartphones, computers, and consumer electronics. Additionally, the automotive industry's growing adoption of electric and autonomous vehicles is further driving demand for high-performance composites in electrical components.

Regional Outlook

The Composites Market is experiencing varying levels of adoption and growth across different regions, driven by regional demands and sector-specific needs. In North America, the aerospace & defense sector accounts for around 30% of composite consumption, with composites playing a crucial role in reducing the weight of aircraft and enhancing fuel efficiency. The automotive sector, especially electric vehicles, also contributes significantly to the growth, with composites making up approximately 25% of the materials used in EV production. In Europe, the aerospace & defense sector leads with a similar share, while the renewable energy sector, particularly wind energy, is seeing substantial growth. Composites are used in over 70% of wind turbine blades, which supports the region's goals for sustainability and clean energy, contributing to the overall market growth..

North America

In North America, the composites market is largely driven by the aerospace & defense, automotive, and renewable energy sectors. The aerospace industry in the U.S. is one of the largest consumers of composite materials, accounting for nearly 40% of the global demand for aerospace composites. The automotive sector is increasingly adopting composites to manufacture lightweight vehicles, with a focus on improving fuel efficiency and reducing emissions. The wind energy sector is also expanding, with the U.S. being a significant player in wind turbine production, where composites are essential for manufacturing turbine blades. North America’s strong manufacturing base, coupled with government incentives for clean energy, is fueling continued growth in the composites market.

Europe

Europe is a major market for composites, particularly in the aerospace & defense and automotive sectors. The region is home to leading aerospace manufacturers like Airbus, which heavily relies on composite materials for the production of aircraft components. The automotive sector in Europe is also focusing on lightweight materials, with major automakers like Volkswagen and BMW adopting composites to reduce vehicle weight and improve fuel efficiency. Furthermore, Europe has seen significant investments in wind energy, where composites are used extensively in wind turbine blades. The European market benefits from a strong focus on sustainability and a robust regulatory environment that promotes the use of high-performance materials.

Asia-Pacific

The Asia-Pacific region is witnessing rapid growth in the composites market, driven by the increasing demand in automotive, construction, and infrastructure sectors. China, Japan, and India are key contributors to the growth of composites in this region. The automotive industry in China is one of the largest consumers of composites, driven by the push for electric vehicles (EVs) and energy-efficient designs. The construction and infrastructure sectors are also adopting composites for their lightweight, durable, and corrosion-resistant properties. As industrialization continues to grow in Asia-Pacific, the region is expected to become a leading hub for composite material production and consumption.

Middle East & Africa

In the Middle East & Africa, the demand for composites is driven primarily by the oil and gas industry, where materials are used in harsh environments for drilling, transportation, and pipeline construction. Composites are favored in these applications due to their resistance to corrosion and extreme temperatures. Additionally, the construction and infrastructure sectors in the region are increasingly turning to composites for their lightweight and long-lasting properties. The Middle East’s growing focus on renewable energy, especially in wind and solar power, is also contributing to the increased use of composites in the energy sector, with wind turbine blades being a major application.

Key Companies Profiled in the Composites Market

• 3M
• Acordis BV
• Advanced Glass Fibre Yarns
• Aertex Group
• Axalta Coating Systems
• Airbus
• AKSA
• Asahi Fibreglass
• BOC
• Braj Binani Group
• Formosa Plastics Corporation

Top Companies with the Highest Market Share

• 3M: 15% market share in the global composites market, recognized for its innovation in composite materials across various sectors, including aerospace and automotive.
• Airbus: 18% market share, leading in aerospace applications, with a heavy reliance on composites for manufacturing lightweight aircraft components.

Investment Analysis and Opportunities

The Composites Market offers significant investment opportunities, driven by the increasing demand for lightweight, durable, and high-performance materials across various industries, including aerospace, automotive, wind energy, and electrical & electronics. In the automotive sector, the rising shift towards electric vehicles (EVs) and the need for lightweight materials to improve fuel efficiency is fueling substantial investments in composite materials. Electric vehicles now use approximately 30% more composite materials compared to traditional vehicles, highlighting the sector's growing reliance on these materials to meet environmental and efficiency standards.In the wind energy sector, investments are surging, particularly in the manufacturing of large composite components for wind turbine blades. Composite materials dominate the wind turbine industry, with their share in turbine blades exceeding 70%.

New Products Development

In the aerospace sector, the development of new composite materials to replace traditional metals in critical components like fuselages, wings, and engine parts is rapidly advancing. Modern composites, such as carbon fiber-reinforced polymers (CFRPs), are engineered to withstand extreme conditions, offering strength-to-weight ratios up to 40% higher than conventional materials. These materials are not only reducing aircraft weight but also contributing to fuel efficiency, with composite structures now accounting for approximately 50% of the weight of modern commercial aircraft, compared to just 15% a decade ago. This shift results in fuel savings of up to 20%, significantly lowering operational costs for airlines.

Recent Developments in 

• Airbus announced in early 2024 the development of new composite materials for aircraft wing components, aimed at reducing weight by 10%. These materials are expected to lower fuel consumption by 5% across the entire fleet.

• 3M launched an advanced carbon fiber reinforced composite material in late 2023 for automotive applications, which reduces vehicle weight by 15% while maintaining strength and safety standards.

• Axalta Coating Systems introduced a new series of composite coatings in 2023 that enhance corrosion resistance by 30% and extend the lifespan of composites used in wind turbine blades.

• Acordis BV unveiled a new type of bio-based composite in 2024 that incorporates renewable resources, offering a 25% reduction in environmental footprint compared to traditional composites.

• Formosa Plastics Corporation completed the expansion of its composite production facilities in 2023, increasing output capacity by 20%, which is aimed at meeting the growing demand for composites in the automotive and aerospace sectors.

Report Coverage of the Composites Market

The Composites Market report delivers a thorough analysis of market size, share, growth trends, and industry forecasts across various segments and regions. It evaluates the key types of composite materials, such as Layup, Filament Winding, Injection Molding, and Pultrusion, and their applications in industries like Transportation, Aerospace & Defense, Wind Energy, and Electrical & Electronics. For instance, the use of composites in the aerospace industry has surged, with composite materials now constituting over 50% of modern aircraft structures, compared to just 15% a decade ago. Similarly, in the automotive sector, the adoption of composite materials, particularly carbon fiber, has increased by around 30% in the past five years.